Nifty- Doji today - Signal of an end to the fall?
Nifty made a doji today- FIIs sold for 3300cr however, the sharp recovery from the bottom (16750 levels) was fuelled by DIIs buying for 4600cr.
Close today is just above the previous day close with all that firepower from DIIs.
Close today is also below the 100EMA -this can act as a resistance if market opens below 100EMA (50pts gap down opening is indicated as per futures).
We will have a narrow CPR (central pivot range) tomorrow- 30th Nov. So it should be a trending day. Market could take support of CPR and move up or take resistance and trend lower.
Next support at 16399. Next resistance is 17041.
Does the market have the sentiments to move up or is it going to resume a downward journey tomorrow(op below 100EMA indicates a bearish bias)- for sure we will know only tomorrow.
Close today is just above the previous day close with all that firepower from DIIs.
Close today is also below the 100EMA -this can act as a resistance if market opens below 100EMA (50pts gap down opening is indicated as per futures).
We will have a narrow CPR (central pivot range) tomorrow- 30th Nov. So it should be a trending day. Market could take support of CPR and move up or take resistance and trend lower.
Next support at 16399. Next resistance is 17041.
Does the market have the sentiments to move up or is it going to resume a downward journey tomorrow(op below 100EMA indicates a bearish bias)- for sure we will know only tomorrow.
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